Five tips to help mortgage lenders succeed in an uncertain interest rate environment
Finastra Senior Director Mary Kay Theriault discusses how community banks and credit unions can optimize their operations to optimze and efficency now and be ready to grow when interest rates move lower in the near future.
Mortgage application volume in 2024 continued to be constrained by tight housing supply, rapid home price appreciation, and persistent high interest rates, putting pressure on financial institutions, like community banks and credit unions, to streamline their operations. Fannie Mae is predicting 2025 will shape up to be similar to 2024, underscoring this necessity.
But while lower interest rates may take longer to arrive than previously thought, there is growing momentum in the housing market and now is the time for financial institutions to boost their readiness by planning ahead and enhancing their back-office operations.
